KeyCorp Has Lowered Expectations for AppFolio (NASDAQ:APPF) Stock Price

AppFolio (NASDAQ:APPF) had its price target cut by stock analysts at KeyCorp from $285.00 to $270.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the software maker’s stock. KeyCorp’s target price would suggest a potential upside of 6.12% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and raised their target price for the company from $240.00 to $350.00 in a research report on Friday, August 1st. DA Davidson reiterated a “buy” rating and set a $350.00 price objective on shares of AppFolio in a research report on Friday, August 1st. Keefe, Bruyette & Woods upgraded AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective on the stock in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, AppFolio has a consensus rating of “Buy” and an average target price of $310.20.

AppFolio Trading Up 7.9%

Shares of APPF opened at $254.43 on Friday. AppFolio has a 12 month low of $190.24 and a 12 month high of $326.04. The stock’s 50 day moving average is $260.29 and its two-hundred day moving average is $244.89. The firm has a market cap of $9.12 billion, a P/E ratio of 45.68 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.14). The firm had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. AppFolio had a net margin of 22.48% and a return on equity of 26.24%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 EPS. AppFolio has set its FY 2025 guidance at EPS. Equities research analysts forecast that AppFolio will post 3.96 EPS for the current year.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the sale, the chief executive officer owned 59,556 shares in the company, valued at $16,494,034.20. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 1,636 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $276.98, for a total value of $453,139.28. Following the sale, the insider owned 25,015 shares in the company, valued at approximately $6,928,654.70. This trade represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 50,203 shares of company stock valued at $14,382,536. Insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several large investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in AppFolio by 38.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,303 shares of the software maker’s stock worth $911,000 after purchasing an additional 914 shares during the period. First Citizens Bank & Trust Co. increased its holdings in AppFolio by 9.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,978 shares of the software maker’s stock worth $1,372,000 after purchasing an additional 422 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in AppFolio during the 3rd quarter worth about $455,000. Root Financial Partners LLC purchased a new position in shares of AppFolio in the 3rd quarter valued at about $31,000. Finally, Verdence Capital Advisors LLC increased its holdings in shares of AppFolio by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,395 shares of the software maker’s stock valued at $1,212,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.